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PNB festive offer: Waives off processing fees on housing, car, myProperty loans

PNB festive offer: Waives off processing fees on housing, car, myProperty loans

PNB festive offer: Waives off processing fees on housing, car, myProperty loans
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By CNBC-TV18 Sept 9, 2020 4:15:30 PM IST (Published)

Ahead of festive season, public sector bank Punjab National Bank (PNB) today announced certain offers for its customers. Under the scheme, the bank has waived off all upfront, processing fees and documentation charges on some of its major retail products like housing loans, car loans and myProperty loans.

Ahead of festive season, public sector bank Punjab National Bank (PNB) today announced certain offers for its customers. Under the scheme, the bank has waived off all upfront, processing fees and documentation charges on some of its major retail products like housing loans, car loans and myProperty loans.

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Customers can avail of these offers until December 31 through any of the PNB’s 10,897 branches across the country or via digital channels, the bank said in a statement.
PNB has also slashed the processing fees on fresh as well as takeover loans. On home loans, customers are now exempted from paying the processing fees i.e. 0.35 percent of the loan amount up to Rs 15,000 besides the documentation charges.
On car loans, customers can now save up to 0.25 percent of the total loan amount while on myProperty loans, it could be up to Rs 1.00 lakh depending on the loan amount, according to the statement.
The bank now offers home loans at 7.10 percent interest (effective 1st September 2020) and car loans at 7.55 percent.
“The bank is committed to its customers by offering them timely incentives, tailor-made products and ease of banking services in this unprecedented period,” PNB added.
The bank, in the statement, said despite the impact of the COVID pandemic on both credit offtake and the customer sentiment, it is confident that this festive season will see an encouraging revival in the overall consumer spending thereby boosting its credit portfolio further besides positively impacting the economic recovery.
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